There are two types of homes– those with swimming pools and those without. Most homes don’t have pools, so the question often asked is this: does having a swimming pool increase the value of a home?
A swimming pool can increase a home’s value if it’s well-maintained, doesn’t take up the entire yard, and can be enjoyed year-round. You’re more likely to find homes with pools in warm climates like Florida and Hawaii than in colder climates like Alberta. That said, if most of the neighbors have stylish pools and the neighborhood is considered upscale, a pool for your home adds value to it.
Should you decide to sell your house and a buyer wants a pool, then having a nice pool adds value, but if the buyer doesn’t want a pool, having a pool could make selling the home a challenge. Oftentimes you’ll see “free pool” advertisements in the papers and online to those who “are willing to come tear it down and take it away.”
Did you know that installing, equipping and filling a typical concrete in-ground pool costs about $30,000? Therefore, in theory it should bump up the worth of a home, right? Yes. But if the neighborhood is in decline, or the pool is older and/or needs repairs, a new owner may see the pool as a negative rather than a positive. This goes for above ground pools, too.
Pools can become quite costly, as they typically require fencing, lighting, landscaping and more. Because most pools are heated, they add about $100 a month to a homeowner’s utility bill. And they increase water bills, obviously. Don’t forget pools require pumps, chemicals, cleaning, covers, and maintenance. Finally, pools may add to a homeowner’s insurance premiums, especially with regards to liability insurance to protect against getting sued if a visitor should get injured.
While swimming pools may look attractive and serve a purpose, they can make homes harder to sell.
